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Comair's funding requirements have stabilised and the rescue practitioners believe the company can be rescued, they said in a report published on Thursday.
However, the company's legal battle in a US court to cancel a purchase agreement of eight 737 MAX planes from US manufacturer Boeing continues. The Boeing 737 MAX passenger airliner was grounded worldwide between about March 2019 and December 2020 after two fatal crashes - one by Lion Air and and one by Ethiopian Airlines.
A court in New York has reserved judgment in an application by Comair for discovery of certain information and documents. The judgment is expected to be delivered soon.
Comair, which owns kulula.com and operates British Airways domestically under a license agreement, went into business rescue in May 2020. It restarted flights in September after halting them for a few months when SA went into a harder lockdown in July.
The disposal of Comair's Slow Lounge business as part of a transaction with FirstRand Bank - already approved by creditors - remains subject to regulatory approvals by the relevant authorities.
FirstRand has provided an interim loan of R250 million until the deal is finalised.
"At this time the airline is performing above expectations on several key measures including load factors, ticket yields, fixed and variable costs, sales volumes, and individual route profitability," the report says.
